Uncertainty looms in EU economyEuropean chemicals output contracted by 2% in 2012 compared with 2011, according to European chemicals group Cefic. By lowering its forecast released in September, the c..
Uncertainty looms in EU economy
European chemicals output contracted by 2% in 2012 compared with 2011, according to European chemicals group Cefic. By lowering its forecast released in September, the chemicals trade body downgrade reflects recent data showing a stagnant European economy and a further decline in chemicals output since the first quarter of 2012. Cefic forecasts a slight expansion of 0.5% in 2013.
EU automotive and construction segments were a drag on chemicals demand in 2012, offering few encouraging signs. Sluggish demand remains for new cars as government-backed incentives to replace vehicles have now run their course. The fallout from overcapacity in the construction mark
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